SOURCE: Om Records

October 20, 2008 13:56 ET

LRG Capital Group Makes Additional Investment in Om Records

SAN FRANCISCO, CA--(Marketwire - October 20, 2008) - Om Records (www.om-records.com) announced today the company has received an additional investment from Larkspur-based LRG Capital Group, a global investment, banking and advisory boutique. Om Records will utilize the proceeds from the investment for the development of its new online initiatives (including a web & mobile-based lifestyle portal), additional content delivery platforms, and further development of its growing merchandise and events business divisions.

"Om Records has clearly demonstrated that it understands the dynamics of today's entertainment and media markets and can monetize the Om brand," said Lawrence 'Larry' Goldfarb, CEO of LRG Capital Group. "The company is cash flow positive, well capitalized and has a robust and profitable pipeline in its licensing, digital sales and publishing divisions."

"We are excited to have the continued support of LRG Capital Group as we profitably grow revenues and expand the reach of the Om brand," said Christopher Smith, Om Records' CEO. "We are projecting solid growth and sustained profitability for the 2nd quarter of 2008 and beyond."

Om achieved significant growth in digital sales, licensing, consulting services and overall net income the first two quarters of 2008. Gross Sales were up by 7% with a 10% pre-tax margin.

About Om Records

Founded in 1995 in San Francisco, Om Records is a music lifestyle company with a diverse catalog of thousands of music copyrights. Om's core business activities include music marketing, publishing, merchandising, and licensing. Om is also a global events production company with hundreds of music showcases per year, and a style brand with design accolades from nearly every major publication in the world, including VIBE, Billboard, the New York Times and Rolling Stone. Branded the "United Nations of Future Music," Om's mission is to market music that is refined, innovative, and always pushing boundaries. Visit www.om-records.com.

About LRG Capital Group

LRG Capital Group (www.lrgcapital.com) is a global investment, banking and advisory boutique that focuses on public and private companies in the technology, life sciences, hospitality, real estate and entertainment sectors. Founded by Lawrence Goldfarb, the firm provides capital via private equity, commercial loans and structured debt financing, and guides and advises clients on mergers and acquisitions, corporate finance and other strategic alternatives. Based in San Francisco with offices in New York and Miami, LRG Capital excels at relationship-focused guidance and financing.